NASDAQ bloodbath, what next?Not going to get into the details of surging bond yields that are causing havoc across markets, just gonna display what I see on the charts and potential scenarios that could play out; both bull & bear.
Let's start with bear since it's more prominent;
- NDX closed below 50 day SMA/EMA moving averages and a crucial uptrend TL that connects March & October lows.
- NDX has been struggling with 4hr moving average dynamic resistances, losing each of its battles at every bounce.
- NQ broke-out twice out of the downtrend over the last week yet barely lasted hours before getting hammered back. Struggled to overcome 1hr downtrend TL's on my chart and when it did, it quickly lost the battle afterwards and is currently hanging on to a thread.
- Volume profile is witnessing major spikes & sell pressure in Asia/ Europe and NY sessions. NY has been picking up the mess from Asia & Europe over the past few days but gave up the bounce-me-back battle today.
- FAANG closed below a critical TL & other major tech players like Tesla, NVIDIA & PayPal are getting hammered in the process. Tesla & NVIDIA alone have lost nearly 14% & 12% of their market value respectively over the past 5 days alone.
-Candlesticks are as ugly as ugly can get.
With the above said, it does seem like another move down to break the 12740-12800 support range is extremely likely. 1-day 100-EMA or the 1 week 20-day EMA should be the next dynamic supports for NDX as they have been supporting this market during every major pullback in the past several months. The levels to watch out for are 12575-12630. If we break below these levels, 12000-12200 could be the next stops.
The bull case, though there isn't much;
- The lows are 'still holding' and the market parked the bus above right above these levels.
- Volume spikes at the 12760 level have been substantial, however continuation is weak and bears have shown strength above. Whether this level has been exhausted or not, we'll only know during futures trading and NY session tomorrow.
- Diverging 1hr RSI on NDX and 4hr RSI on NQ potentially forming an IHS. If it plays out, we might see a trend reversal sooner than later either from recent lows or the moving averages I mentioned above.
- Stimulus? I don't even know how it will affect markets as it's been expected and priced in for quite a while now but the market never fails to surprise.
- Can't reiterate how strong the fundamentals are for big tech minus Tesla; at some point the bleeding will stop and a strong rebound will be at play. I still strongly believe we are heading to 14000.
NASDAQ 100 CFD
Nasdaq correction looks to be overFor this post, I will use NDX & Nasdaq interchangeably. For those of you not as familiar with the index, you may be more familiar with the ETF QQQ, which tracks the Nasdaq or NDX.
The NDX correction looks to be over. A bottom was created partially when Cathie Wood's set a floor by coming into the market guns blazing loading up on some of the riskiest, highest-flying names in the Nasdaq.
A churn from growth to value has been underway and should continue as rates rise. Nasdaq has far outperformed the other 2 major indices so I expect it to trade somewhat sideways for a period of time.
Moving averages maintained in the 2H chart, no bearish crosses, and the NDX has already started to bounce back.
Look for quality in times like these and other ways to generate returns. Some factors to look for are:
1. a P/E ratio below 17x; meaning it is not too overvalued.
2. a solid balance sheet with positive cash flow
3. a dividend yield (if #2 is achieved, dividend yield should be safe with potential raises and share buybacks)
4. a quick ratio at least above 1.0. (this defines financial health & ability to deal with debts) the higher the better.
5. solid trends in earnings beats
NAS100USD 2021 Feb 22 Week
NAS100USD 2021 Feb 22 Week
D1 = still bearish
H4 = 13474, 13569 appeared well supported.
2nd last bar being climatic, followed by narrow spread bar, although with volume slightly lower,
reinforces that some support is present.
If bar after A can close higher than close of A and preferably near or above its high, then we can
be sure buyers are supporting.
So watch 13474 as previous demand 18206 - 13250 could be next target if bearishness continues.
Like and follow if you find this useful : )
Have a safe and profitable trading week!
OANDA:NAS100USD
NASDAQ - At a Crossroads 😶🌫️Hi guys,
so yesterday's dip was bought well but it did not last - good if you have the habit of taking some profit by closing partially and stop-losses at entry to avoid any losses.
At this current stage, there seem to be a growing sentiment for a correction so maybe there will be a new dip to buy soon (today?) especially if the price breaks this current support level.
Watch out and trade/invest responsibly. I can tell you yesterday was really bad day for me so taking small steps back on the game today. It looks like we could have bigger dips to buy and bigger fish to fry in the next coming weeks.
ps. Nasdaq I still love you habibi, no matter what
NAS100USD 2021 Feb 15 Week
OANDA:NAS100USD
NAS100USD 2021 Feb 15 Week
H4 we have a strong demand bar.
H1 1 Shortening of thrust in last bar, so we may have short opportunity
on intraday, before a long on dip opportunity manifest, should 1375-13772 or
demand line of trend channel be tested.
Resistance1 = 13829 - 13835
Support1 = 13751 - 13772
Support2 = 13694
Support3 = 13620 - 13637
Like and follow if you find this useful : )
Have a safe and profitable trading week!
Correction is ImminentNASDAQ chart features early similar pre-correction patterns consisting of 2 'resistance bumps' followed by ugly 'nazi salute' pattern. See chart.
ALL TIME HIGHS FRIDAY...IT WILL CONTINUE THIS WEEK!!!With 30 minutes before Monday's open QQQ above Friday's High:
If Monday opens above Friday's High:
Our Model predicts:
30 minute low holds = Monday closes above Monday's Open = Monday's 30 minute low should be the low for the entire week !!!
30 minute low breaks > -20 cents = Monday's closes below Monday's Open
If Monday's 30 minute low eliminates the gap from Friday's close = Monday High week !!! ( Isn't it amazing how that one gap fill changes the whole week's outcome ? )
So our model is expecting another strong week with at least one good down day mixed in.
Unless Monday opens and goes straight down to 331.36 (Friday's Close) we will be buying QQQ Calls and SQQQ Puts in Monday morning is the 30 min low either holds or breaks < -20 cents
Nasdaq 100 Index (8H) / Elliott Wave Update It's getting embarrassing for bulls and bears (especially bears). When are we pumping or dumping?
Please like and share if you appreciate this market update.
We are certified Elliotticians and publish Elliott Wave counts for indices, stocks & ETFs, cryptos, and commodities, in weekly, daily and 4-hour timeframes.
Cryptos are updated every day of the week and on Saturday, if necessary.
Traditional assets are updated on Monday, Tuesday, Wednesday and Thursday, and if necessary, on Friday.
Elliott wave & Fibonacci labelling:
Common path in white, bullish count in green, bearih count in red.
Bitcoin, Major Indexes, Stocks, ARKK, vs My Managed portfolios 11.28% weekly gain in the first week of February
This past week my portfolio of 25 stocks performance was 11.28%, and for the 4th weeks in row My recommended portfolios beat all major indexes, S&P 500 (4.65%), NASDAQ (5.25%), Dow Jones (3.89%)and ARKK(8.75%).
Let’s look at the
1- ADTX @ 3.73 - 3.44 loss -7.77%
2- AI @ 139.60 - 146.60 gain 5.01%
3- AKRO @ 29.42 -31.45 gain 6.90%
4- CRM @ 225.56 - 238.89 gain 5.91%
5- EBON @ 5.13 -5.83 gain 13.65%
6- EDTK @ 3.26 -3.55 gain 8.89%
7- EYES @ 2.16 - 2.45 gain 13.43%
8- FSR @ 15.03 - 14.99 loss -0.27%
9- GM @ 50.68 - 54.41 gain 7.36%
10- GNUS @ 1.78 -1.88 gain 5.62%
11- GRPN @ 34.17 - 35.68 gain 4.42%
12- GSV @ 0.7093 - 0.7193 gain 1.41%
13- INTC @ 55.51 - 58.18 gain 5.45%
14- MARA @ 20.74 - 22.52 gain 8.58%
15- METX @ 2.03 -3.05 gain 50.25%
16- MRIN @ 2.16 - 2.28 gain 28.7%
17- MTC @ 2.07 - 2.58 gain 24.64%
18- OPTT @ 4.01 - 4.86 gain 21.20%
19- RIOT @ 20.52 - 23.38 gain 13.94
20- SNOW @ 272.45 - 306.05 gain 12.33%
21- THMO @ 3.41 - 3.27 loss -4.11%
22- VLDR @ 21.74 - 23.25 gain 7.09%
23- VRM @ 36.83 - 47.71 gain 26.83%
24- WISA @ 3.34 - 3.70 gain 10.78%
25- WORX @ 2.03 - 2.27 gain 11.82%
This portfolio performance becomes more interesting when you take a closer look at it:
- 22 out of 25 stocks ended the week with gains(88%)
- 11 stocks have finished the week with double digit gains (44%)
- 5 stocks had +20% gains (20%)
- 1 stock had 115% gain volatility, although ended the week with +50% gain
So far my weekly portfolios have had 54.14% compound gain in the last 4 weeks..!
This performance Shines more in comparison with other performances since January 11th 2021:
Bitcoin: +10.13%
S&P 500: 2.17%
NASDAQ: 4.88%
Dow Jones: 0.55%
Gold: -1.04%
Last word: Always search for the most volatile market, opportunities pops up in the most volatile market.
Moshkelgosha
Nas100 AnalysisHi everyone, so the market has come exactly where I did say I will come on my previous analysis couple days ago. It was a slow stroll yesterday with all the reactions from the news. We are at a crucial point on nasdaq, a break of this 13585 resistance we will see a new high, 13700-13800, however the market may pull back before breaking this resistance. If we do come down and the market rejects to go back up and break the centre trend line then we can see a bearish momentum bring price back down to 12962-12751.
Don't be greedy, have a plan, every plan will not go right especially during times like this where is very volatile and unsteady so be patient and don't let your emotions take over.
Have a great day trading and if you want to learn you can always contact me, here to help you learn, grow and become profitable